NYSE:TSN looks great, is clearly in an uptrend breaking out of a second base after beating EPS estimates last week. The thing is that I don't see volume action, or a good follow-through. Still, I keep my eye on this one. Industrials have been leading the market for the last weeks and NYSE:TSN is one of the leaders of the Food Production Industry, is rank 3th by...
An individual stock trade that I'm taking on Webull. Classical trade, noting the fact that TSN has put in a double top formation and is breaking down from the Point of Control of it's latest range with rising Volatility indicated by WAE. Parallox signals bearish, Voss signals bearish entries. Fundamentals are also strong here, as Tyson has recently had to close...
Tyson recently had a small pullback as shown in that descending channel on the chart. The price managed to find support on the 50-day EMA before breaking out of the channel due to their earnings report.
The price targets are the $105.60 & $123.00 price levels.
This stock is over stretched, weak management who base everything on the industry and does not have the energy or will to innovate. It has done well over the past few quarters, but insider activity tells of a lack of confidence in the stock.
I DON'T play ERs, but will be watching this post ER for a possible short given the indicators. Then again, it might just dump on ER, but still not worth it cause anything can happen.
***Let's talk about it...***(After ER)